The Crown Estate, the British Monarch's land and property company, is seeking a buyer for its freehold interest in 10 Bloomsbury Way, a mixed-use commercial island site in central London. Advisor CBRE said it was inviting offers in excess of £33 mln (€38 mln).
According to the broker, the rare freehold interest - which fronts New Oxford Street, Bloomsbury Way and Bury Place - has never been traded. It is currently let to London & Regional Properties on a long leasehold.
'Bloomsbury is one of the most rapidly developing parts of the capital in close proximity to a number of significant transport hubs and will benefit from the delivery of the Elizabeth line at Tottenham Court Road from 2018,' said advisor CBRE in a note to the press. 'The £1 bn spend programme at Tottenham Court Road is the largest transport investment in the West End for decades. This has led to a significant development pipeline response and an unprecedented take up from renowned global occupiers moving to the area including Facebook, McKinsey & Company and COS Stores.'
Originally built as the Headquarters of the Ministry of Defence in 1947, the asset was comprehensively refurbished in June 2015 to include a new 9th floor level. The property is currently sublet to six office tenants and one retail occupier.
